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Ukraine 31, Russia 21, Us 10, Europe 7, Crimea 6, United States 5, S&p 5, New York 5, Charlie Gasparino 4, U.s. 4, At&t 3, California 3, Adam 2, Puck 2, Nissan 2, Gm 2, Jessica Guller 2, Keith Bliss 2, Nicole 2, Horsehide 2,
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  FOX Business    Markets Now    Insight and analysis is  
   provided on the day's market action.  

    March 3, 2014
    1:00 - 2:01pm EST  

our viewers will need you guys to handle them. cheryl: we cannot blame you for this one. charles payne. thank you, charles. hi everyone, i am cheryl casone. adam: we start with breaking news on the tense situation in ukraine. a russian state news agency that russians fleet has warned to surrender by tomorrow or face military storm. they dispute that claim. peter barnes has the latest for
us. peter: they are reporting that the russians fleet has no plans to launch an assault upon the ukraine military units. the fleet commander had set a deadline of 5:00 a.m. tuesday for ukrainian forces to surrender. we are on a briefing. it is with a state department spokesman who was asked about this and that spokesman said that she could not confirm this report, but if true it would constitute a dangerous escalation of the situation in the ukraine and crimea in the united states would hold russia directly responsible for this
escalation. separately, also, the european union now says it is considering "targeted measures against russia". vice president biden called the russian prime minister this morning urging once again that russia pull back its forces in crimea. they said russia needs to support immediate employment of international monitors to the ukraine and should begin a meaningful political dialogue with ukrainian government. i also want to let you know that president obama is about to meet with the israeli prime minister. we could hear comments from the president. stand by for that. adam: we will be standing by.
thank you for joining us to help us understand what may happen next. we just heard that you talking about targeted measures. russia will be held accountable. how does the west do that? >> not easily, first of all. administration's foreign-policy tenure. we have to act, but for the moment, the most important thing is to try to de- escalate what was going on on the ground and to give president putin to pull back and not keep upping the ante. apparently he is trying to do that by seizing the troops. it is difficult from the
outside. lives are on the line. you do not want to send a signal that they are on their way. on the other way, we have to stand by these people. there will have to be a lot more done. what we have is a major power play for the expansion of russia through the use of military force. that is something we have to counter. it is not the peaceful place that was in the past. adam: how do you counter militarily without wrecking economies in the region or watching markets react to this right now? >> first of all, situation in crimea is what it is. what we should do is hope that it is facing a aggression and occupation.
we will help the ukraine in any way that we can. it is military advice. there are steps that we can do. you have to be careful, though. nonetheless, if we limit this to them to go to las vegas or blocking bank accounts in america, we will not make the aggression on pulling. adam: can the aggressions not retaliate? they supply something like 10% of the oil on the world market. don't they hold the upper hand? >> for the moment, they do. there are a variety of military measures that we could do to either call them out on things like the violations of the
intermediate missile defense treaty, weakened and our missile defense talks with them, which is what they desire and there is no particular reason to do that. we could start beefing up our nato presence which we withdraw dramatically in the next few years. more importantly, we could start exporting gas to europe. coal and oil are fungible. in europe, that is the dependency of europe. europe will not be able to do very much without some perspective alternative markets. without your, there is very little that we can do. cheryl: certainly, we are watching stocks. we are sitting pretty much at session lows. let's get to nicole petallides on the floor of the new york stock exchange. volatility, nicole, is off the charts today. nicole: that is right. that is something that we
focused on. take a look at the dow right now. a loss of 1.1%. our low for the day was 16,771. the nasdaq is down one full percentage point. a loss of more than three quarters of 1%. worth noting that the transportation index was also lower. there are concerns about what is going on in crimea and the ukraine. concerns about russia. oil supplies. we are seeing oil moving higher. gold, the safe haven. the save play. that has been jumping $30. we have mixed economic news. just a lot of selling going on across the board. cheryl: a lot of the big names that do business in eastern
europe. this crisis is putting investors on edge. these geopolitical worries are temporary. jeff flock joins me now. you are not that concerned about what you are seeing in the ukraine. we will have some kind of escalated issue with the russians. are you dismissing that concern today? >> it looks to be that the ambassador had it right. the russians have all the cards. they are there and we are not. we cannot move assets into place fast enough to stop with the russians are doing. the market was however set up for some kind of pull back. the news tends to pop out in a pullback here. the question is, how deep they can go. cheryl: this is a very different
tune that you are singing right now. you are in cash. >> that is not true. we are 80% invested. it is somewhat high for me. i think we are in a secular bull market. you had a number of ten-15% pullbacks. i have every intention of when things look better uploading more capital to work on stocks. cheryl: you are waiting for a pullback. again, you point this out to your clients as well. we have had an amazing rally since the month of august. a lot of our viewers have turned to picking individual names. a lot of big american names have put that into russia.
i had nigel travis on a few weeks ago. he was so -- if this gets worse, is that a risk for u.s. companies? >> it depends on how much russian exposure they have. i really do not want to invest in russia. seven, eight, nine years ago, proven basically nationalized a $4 billion estimate that bp had invested in. it gave like a billion dollars back. i want to invest in countries that are denominated in laws. i do not trust russia. cheryl: as we look ahead to 2014, are there other investment opportunities for our viewers right now? >> i am in the camp that says
the fed will increase its balance sheet i roughly 15% this year. earnings estimates are, could be up 13% year-over-year. i think it is reasonable to expect 13% out of the s&p 500. cheryl: we are seeing interest in gold, oil call again today. tomorrow another story. jeff, thank you very much. great to see you. >> thank you. cheryl: one of the most bullish guess i have had. adam: he said secular polish market. he still sees a lot of upside once we get through this. cheryl: you just hope that nobody gets cut off by the numbers they are seeing. adam: a lot less serious
consequences. that nasty winter storm is grounding flights and elaine thousands more. several offices are shut down. cheryl: rolling out more than the red carpet. the new twitter survey that lets users vote for their oscar favorites. nfl and espn could be next to get on this bandwagon. adam: gerri brown is on high alert. what he says about the future of marijuana in his state. ♪ there's this kid.
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cheryl: we have rich edson standing by on capitol hill. it does look like it is pretty rough there. rich: it is still snowing. if this came down when i was in high school, i probably still would have gone to school. government workers have had some time off in the last six weeks or so. you have february 13 the
government was closed. today the government is closed. a two-hour delay. in other words, you can use your off days on those days without giving them any warning, basically. a major fly problem. thousands of flights are canceled throughout the country. the wind kept blowing the snow back onto the runway. you have delays of more than 5600. cancellations of more than 4700. with that we now have a petition on white house .gov. i do not think that they have enough signatures to get a comment from the white house.
it continues to snow here. it is supposed to get so cold here. >> we are all in the northeast. so over this weather. adam: still, jeff flock joins us to break down some of the numbers. are there any surprises? >> there were some surprises. go right to the stockport. that will tell you who won and two loss this month. gm in a down market sharply down flat today. ford andota both down sharply as well.
then after the stock, take a look at the numbers. on the negative side, it was this cold weather really doing it. vw down 13%. ford and toyota both down more than expectations from analysts. on the positive side, subaru up 25%. nissan had a great month. chrysler a great month. the big winner for chrysler, take a look at the ram pickup. it was a big month for trucks. graham was up huge. we break down all of the other automakers with their trucks. the nissan frontier and titan was up 58%. the ram, as i said, up 26%. the big negative, gm, silverado
and sierra. i leave you with one final picture and that is of the jeep. the jeep cherokee. a huge month for the jeep cherokee. up 47% for jeep on the month. cheryl: apple is taking its fight. the operating system to cars. car play. a new technology that will link your iphone directly to your vehicles. apple says over a dozen major automakers will offer car play. cheryl: i cannot read my messages when i'm driving.
twelve years of slade taking the top honor. why this tricky 4-year-old is also having her oscar moment. adam: ellen degenerates opting for a mid- show pizza delivery. how about a beer to go with it. there is an app for that. ♪
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adam: the situation in ukraine is dragging markets down. an update on the latest headlines. the acting president of ukraine says the size of russian forces is growing within the region. the fleet is blocking ukrainian vessels. cheryl: we continue to watch the
markets. a lot of winners at last night's academy awards. ellen degenerates crashed the site. for the first time ever, twitter and e! online allowed users to vote. a social conversation analyzing startup. the ceo joins me now. congratulations, by the way. >> thank you. cheryl: you have all of these companies setting up. was everything that happeeed last night what you expected? >> i think that they are ready to start incorporating opinions.
>> you measured the interaction from users. you also have these partnerships with the nfl going on right now. how did you get this all going within a year? we've focused a lot of our efforts on just building an algorithm that understands unstructured conversation. we are continuing to see as emerging markets start to see the device. more people are voicing their opinion.
i am wondering if these publicists will be calling you and looking for ways for them to advance their celebrity platform on twitter. >> when you think about their weekly brands, celebrities is kind of elevating their social currency, so to speak. cheryl: what have people been saying to you today? companies will line up for this thing. >> it is clear that the platform itself is becoming more and more mature.
there is more of a need to say let's harness these voices. people understand that they are part of a larger global conversation. companies can use that data either on air, to produce content or to make decisions internally for their company. cheryl: how old are you? >> i am 24. cheryl: we would love to have you on whee you are president of the united states. you can see best supporting oscar winner.
adam: we will take you there for a live report. we will follow every development as it unfolds during the next hour. and what it means for your money coming up. ♪ [ male announcer ] hands were made for playing.
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see. 48th record close on friday. we're off of that today. let's head to the floor of the new york stock exchange with nicole petallides with more market context and what is going down on the floor. nicole. >> what to make of all 103 sectors selling off, industrials, among the weakest groups. not often you see every single sector with down arrows. that is what we're seeing today. obviously great concerns coming from abroad over in the ukraine and that really put a damper on our markets here and i understand why that happens and you get that knee-jerk reaction but question is, do we bounce back? is this an oversold market? some traders say this is a blip. look what is going on with the vix. the moves we're seeing date back to early february. the vix is jumping by the largest gain. right now it has been up 14% give or take but the biggest move or biggest jump we've seen since early february. when we saw a move similar to this one in early february where all 10 sectors sold off, we saw
people jumping in and buying afterwards. it is interesting. we'll chat with our market guests. jason weisberg of seaport securities, adam, noted that. look, probably just a blip here and you start to see a bounceback. >> tough to watch. nicole, thank you very much. appreciate it. adam: continuing to follow the news out of ukraine, the country's acting president is speaking out clliming russian forces in crimea continue to grow in size. as e.u. leaders call an emergency summit in brussels for thursday to discuss the growing problems. fox news radio jessica guller is down on the ground in ukraine. she joins us with the very latest. >> russian speaking troops are basically taken an infantry base not far from where i'm staying. they surrounded the troops, told us you're with us or against us. if not we'll hold you hostage. ukrainian soldiers have been also, we understand the head
of ukraine's navy surrendered after his second day on the job. he is now being tried for treason because, ukraine says that obviously he has betrayed his country. the coast guard has moved its fleet from their ports here in crimea, out to the black sea, although kiev maintains the shipses are still loyal to kiev. also there is a massive increase in the amount of troops here on the ground as one can imagine from friday until today. i see a lot more tanks rolling buy. and the hotel where i am staying, russian-speaking troops more than they were before.r way there are more people around. obviously a tense situation here. moscow maintains they have every right to be here because they feel like their interests are being threatened and they feel like russian speakers are being threatened as well. adam: jessica, any of the news how the west might react to this in any way playing where you
are, for instance the white house saying it is preparing sanctions against russia? does anyone take that seriously on the ground where you are? >> if i may be frank, absolutely not, no they don't. mo spoken with here say that they are eastern-leaning towards moscow. they're glad that the russians are here because they feel safe. they feel like they will be threatened with a new government in kiev. other people who are russian speakers here, ethnic russians are not necessarily in favor moves could you being here and don't want the new government in kiev. looks like mr. putin is holding all the pieces because it is almost a game of chicken. interrim president is saying please, mr. putin, pull your troops back. he has not done some meanwhile the prime minister says ukraine will use every force possible to push the troops back. in essence within two days, russia basically mentioned taken over this entire peninsula and not one drop of blood has been shed. that is a good thing but on the
other hand what is the united states going to do to influence something like a situation like that here? also mr., when mr. obama was talking about the situation here in ukraine, not once did he mention that the situation benefits the united states. he said it would be bad for russia. it would be bad for ukraine and bad for europe the but not once he said it would be bad for the united states. people take seriously the fact that they're surrounded by thousands of troops. adam: jessica guller on the ground in the cry media peninsula. thank you very much. >> my pleasure. cheryl: crude jumping to a high on concerns about ukraine -- golloher. they are worried about supply with russia top oil producer in the world. >> i think you're right. the other thing you have to watch is heating oil. that's where we're seeing most activity right now. why is that?
because of the natural gas pipelines. if natural gas gets cut off to europe they will look to distillate fuel to fill that void. it is not very easy to up natural gas in ports very easily. if you don't have enough ships, don't have enough pipelines you will see a lot of fuel-switching. we're seeing most of the run-up in the distillate. across the board, brent, wti spread, brent once again is gaining that momentum. the other thing you're seeing here too is gasoline prices. the big picture here eventhe situation gets solved overnight, this price spike will have an impact on the economy, especially when we look to the emerging markets. and it is also going to impact exports. they will not export oil. they need to hang on to it right now. back to you. cheryl: we should point out, gold is up by 28% today. adam: investors do not like instability. cheryl: a little safety today. adam: getting tough with vladmir putin. the obama administration's leverage and what it means for your money. cheryl: charlie gasparino will
be here. he has got exclusive details on another side of the crisis in ukraine. ♪ [ cows mo] [ sizzling ] more rain... [ thund rumbles ] ♪ [ male announcer ] when the rld moves... futures move first. learfutures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ on thinkorsw from td ameritrade. on thinkorsw iwe don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zon across new york state. move or start a newere. businessere... and pay no taxes for 10 years. with new js, new opportunities and a new tax free plan.
there's ly one way for your business to go. up. find out if your business can qualifat >> i'm jo ling kent with fox business brief. u.s. manufacturing accelerate with a boost in new orders. according to the ism index overall factory activity rose to 52.3 last month rebounding from january's 51.3. miirosoft's new ceo is
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cheryl: wall street may be selling off on the news coming out of the ukraine but is main street paying any attention to this? charlie gasparino has that side of the story. >> i think main street people are paying attention to it but
has main street investors, are they bailing out of their stocks? is this representative of the selloff, i think it was almost 200 points at the high? is this representative of retail getting out of the market? i tell you we've been calling down to some of the big trading desks. no, it is not. this is a traders trading off the headlines. from what i understand main street investors are pretty much standing pat right now. now will they stand pat through this crisis? who knows. it is kind of interesting, this is a useful exercise, look at some of the selloffs occurred in past crises, how long they lasted, how much. we're down about 1% this thing is in infant stages. 1% since this thing broke. i have guess you would say about midday friday, right, when the market was -- cheryl: backed off. >> it was 130, 40 points, i can't remember. but then it finished flat to today, down another 200 points that would be, i guess a two-day crisis. day 1/2 crisis. market is barely off 1%. we should point out most people
don't think this is having an impact right now. i'll tell you when you talk to analysts, i put analysts in another category. remember they tout stocks. they're telling me that, you know, barring anything radical from the fed this is still a buying market. cheryl: short-term traders, that is an interesting concept because if you look at a day like today, you're right, most people are watching this, i woken make any change to my portfolio based on ukraine but who are these people making these short-term tradessand how are they profiting? >> they're trading off the headllnes. one of the things that wall street -- i remember just how volatile the markets were douching the financial crisis. if you ever -- you hear trading off headlines, anything marginal would move the market 200 points. that is the type of skittishness and volatility you had back then. you still have a lot of volatility in it now. people trade off headlines. you have a lot of those high frequency traders that have algorithms, you know, that match, key words, triggers. that is what you're having now.
cheryl: yeah. >> really when you think about it, there is really, just in of itself, unless the u.s. ratcheted up massive financial sanctions, banking sanctions on russia itself, massive, and i'm, i just wonder how much leverage the president has doing that -- adam: take this to the logical conclusion -- >> shouldn't have big impact on market. cheryl: look what we're looking at right now. this is the major things that hurt the market in last decade ago. terrorist attacks. pearl harbor but -- >> ukraine is probably 1%. adam: fox news reporter, radio reporter on the ground in crimean peninsula, pointing out two very important facts. one, our direct involvement is really nothing in the united states. huge ramifications, europe needs gas from russia piped through ukraine. so the sanctions option is the european union really going to put themselves in jeopardy? at the end of the day you have a play for that portion of
sovereign territory that belongs to ukraine but history is replete with saying, okay, take it this time but never again. germans with czechoslovakia in '3. >> is president obama really willing, what is his hammer here? his hammer is to somehow, you know, penalize russia when they're involved in the global credit markets, the global banking markets, that if he could somehow, if he does something like that, that could have major economic implications for russia but, you know, that would be something that i think would cause the markets to really, really get, implode. you would see a problem in the markets if russia was cut off economically from the rest of the world. the question is, would he ever do that? i just don't think -- adam: there has been no bloodshed. that is the other thing the reporter pointed out. >> i think president obama is worried, if you think about the u.s. economy right now, it is still pretty weak. you have one thing that he is touting. he is touting dow 16,000. will he be willing to roll the
dice on that? i would say no. that means if, don't panic sell just yet. and, clearly the retail investor is not panic selling right now. cheryl: still trying to get get discussion off health care or obamacare from last year. if we could not talk about that for a moment. >> i mean that would be it. but he has a lot of problems here. this is an interesting scenario. we'll see how it works out but retail is not bailing. i'll tell you that is probably a good thing. cheryl: yeah, absolutely. adam: charlie gasparino, thank you. cheryl: when it rains it pours for california. after a month-long drought, intense rain causing dangerous mudslides and flash flooding. adam: what if you want to make a mudslide, the kind you drink of course, without ever getting off the couch? there is an app for that. called go get me a beer. we have the ceo on his alcohol delivery service. he will join us. you're going to get in trouble for that one.
adam: the unrest in ukraine is driving trade tag and the dow is down roughly, what, 1185 points. we want to get the view from the floor -- 185 points. we have keith bliss. charlie gasparino is talking about retail investors are staying in and some of the quick money is trying to figure out what to do and trading on headlines s that accurate? >> absolutely accurate, adam. if you were all-time highs on friday while you were long why not take money off the table if the situation in ukraine is fluid. we sold off in january because of emerging market problems. we're seeing that again in overseas types of problems and dilemmas we're having. we have strong internals inside our own market and caught a lot of momentum. as you see today, risk markets
are no challenger for geopolitical risks. adam: keith, we had one guest on in the beginning. hour who said we have secular bull market and get ready, we have a lot of upside coming. >> i agree with that. we may see the 10, 15% correction we've been waiting for. we had a little bit after head fake in january. market internals are very strong. this might be a good situation to buy on the dip as long as something gets resolved shortly. right now the situation is still too fluid. probably a good time to take money off the table. be nimble and keep your powder dry and invest when things get cleared up over there. adam: keith bliss, thank you. >> my pleasure. cheryl: time for your west coast minute. california governor jerry brown says legalizing marijuana for recreational use would make the state and nation lose its competitive edge if too many people are getting stoned. he also worries it could hurt the state's fragile economy. in an interview on sunday's "meet the press", governor brown said he is watching how
legalization plays out in washington and colorado. he also talked about the drought on the heels of that powerful storm that threatened to create serious mudslides along the california coast. residents in several counties were forced to evacuate especially those living on unstable hills that were scorched by last summer's wildfires. four hikers were rescued over the weekend after they became trapped between a high wall and rising water in malibu creek state park that is the west coast minute. all right, here is question for you, can ordering liquor be as easy on mobile devices as food delivery has become? somebody said less. they have cornered the market. adam: well the liquor, the answer is yes. a boss done based start up called drizzly is working on app to bring drinks to your door. they're doing it here in new york. we'll hear from the cofounder and ceo next. there's this kid.
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adam: despite turmoil until ukraine there is still money to be made on heels of grub hub ipo filing. drizzly, seamless of spirits is a free iphone app that orders your favorite liquor and deliver it to your doorstep. you can do this in new york and city. i understand you raised $2.5 million. can you give us an idea next where it will go? >> sure. thank you for having me. it is really incredible time for us. so we're pretty focused on two markets we have now. i say you will be hearing from us pretty soon. we'll be expanding around the country shortly. adam: you have to go to each location adhere state regulations. you don't sell the liquor or deliver the liquor and you're intermediary and liquor laws in various states apply to you, correct? >> that's correct.
way we look at it every state we go to we work very hard to make sure we're within all the state parameters. that is something we take very seriously and we're very transparent bit. adam: how long have you been operating in new york city? you're delivering here, are you not? >> we are. we launched in new york six or eight weeks ago. we are live below, about 100th street in manhattan. you will seabrook lynn coming online next four to six weeks. adam: if i were toodownload the app on my iphone and i know it is available through android devices soon, how does it work? i punch in henry zinfandel. i don't know where it could buy in the city. you find a retailer and you connect us? >> exactly. you download the app, set the location and see the store that fulfills your area. that zinfandel to your cart. hit check out. the order gets sent to the store and store will do delivery using our secure system. adam: do the secure delivers or
do i pay you to a fee and the store. >> no fee to the customer. it's a free app. in boston you pay $5 delivery fee which goes to the store. in new york, there is no delivery. we charge a store a monthly license fee to be on the drizzly platform. adam: money for you is being made in the licensing fee and eventually through advertising, advertisements sold through the app? >> yeah. and you know we're not entirely sure where the future revenue streams will come from. right now we're committed to working with our retailers and giving them tools to be successful with this new mobile transaction. adam: very quickly, i want you to come back. i know you will be growing but are you looking someone buying this, any quarters out ttere. >> we're a young people with a lot of growing to do. we're focused on growing our users and growing our stores and you will hear from us around the country shortly. adam: i will be flies and want you to come back on fox business i will not press you who some day might be buyer and future investor. all the best.
>> appreciate it. thanks for having me. cheryl: melissa francis will take us through the next hour. did you watch the oscars? >> i didn't. i was watching "house of cards" and burning through the episodes. we kept saying we would go to the oscars and we didn't. cheryl: where are you through the "house of cards"? >> halfway through the season. don't give it away. fears after war with russia and ukraine. this is happening with days military defense budget.n investors are running from stocks instead going into gold and oil. we're talking to former ambassador to ukraine right now. even when they say it's not it is always about money. melissa: we are kicking off with the markets. they're selling off big-time as tensions mount between ukraine and russia. we have james